Yes, you missed the point. The point is that some people do not want
to see the boot messages. By the time init is spawned the kernel has
already spewed out several pages of cryptic stuff and you might as
well start X.
You will understand better if you find someone with a Mac and
ask them to reboot. The Mac will smile at you while it boots.
No kidding. Win95 is not so cute, but it doesn't spew cryptic
stuff either (unless you still run DOS drivers).
So here is the idea: The boot loader puts up a 320x400x256 image
of Linus feeding penguins raw fish. Then the boot loader loads Linux,
and you don't see anything but the image until X starts.
P.S.
Linus said there are 2 ways to make a penguin happy. I know what
image we could have for booting up development kernels. Without
Linus I hope.